Lloyd's Chairman Decries ?Litigation Culture'
NU Online News Service, Sept. 16, 4:05 p.m. EDT?Speaking at Town Hall Los Angeles, Lord Peter Levene, chairman of Lloyd's, said the "litigation culture" and increasing barriers to free trade cause serious harm to industries that support economic and social progress.
Lord Levene also announced the results of a joint Lloyd's/Town Hall survey of Los Angeles business leaders, which showed that 95 percent believe the cost of litigation is a drain on the economy, while 94 percent are concerned about the potential impact of liability costs on their own business or industry.
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